Marketing is a crucial part of everyday business activity. Having accurate and detailed marketing information ensures you know what works for you and what changes you want to make.
What is a Marketing Qualified Lead?
A marketing lead generally refers to someone who has interacted with your brand in a way that makes them a prospective client. For example, someone that visits your website, calls your office or submits an email address for further communication.
Marketers are generally most interested in ‘marketing qualified leads’ or MQLs, where a potential client has shown a satisfactory level of interest. A few examples include the following:
- Using your website chat
- Completing an online form
- Submitting a phone number or email address
- Interacting on social media
- Signing up for a webinar
What Is Lead Generation?
Now that we have defined an MQL, let’s discuss the process of generating them. Lead generation is all about attracting prospects and turning them into clients. Successful businesses use unique and individualized marketing strategies to raise brand awareness and interaction.
As you can see, lead generation is fundamental to any firm’s marketing strategy. It provides a regular flow of new prospects to the firm. Lead generation needs to be managed and routinely analyzed to ensure you’re maximizing your ROI.
Deducing how your practice attracts new clients without lead generation analysis is difficult. You may assume leads are coming from an online marketing strategy when, in reality, they’re coming from in-person workshops.
By focusing on what your business is doing well, you can hone in to maximize budget and overall marketing success. Lead generation can also help you forecast the future of your practice. For example, if you receive ten new monthly leads from digital ads and convert half of them into clients, you can better manage your firm’s growth.
Why Tracking Marketing Leads Is Challenging
With the myriad forms of communication available today, tracking marketing sources is difficult. For example, if you receive a combination of phone calls, live chats, and online forms, you may need help identifying where they are coming from. Tools such as Google Analytics can assist in tracking your marketing and leads. However, even with digitized details, you may still need complete visibility into your marketing successes. Prospects go through various stages when checking out a law firm. These stages often relate to multiple touchpoints, leaving muddled and indecipherable data.
With 37% of marketers stating that one of their biggest challenges is generating high-quality leads, there is no doubt this is a challenging feat. One of the best ways to ensure you’re conducting high-quality lead generation is by using the right tools and strategies.
How Do I Effectively Track My Marketing Leads?
Here are some tips to assist in tracking your marketing leads.
Automated Marketing Attribution
One of the best ways to track your leads and interactions is through automated marketing attribution. You can link marketing touchpoints to client engagement using a marketing attribution tool.
If attribution doesn’t sound like the right tool for you, don’t worry. Here are a few more tips and tricks to track your marketing leads.
Call tracking may be your solution if you acquire marketing leads through phone calls. Here’s why:
- Research suggests that around 90% of customer interactions occur over the phone. Call tracking gives you access to a vast amount of consumer information.
- One-on-one conversations with a prospective client helps you gauge whether the prospect is a qualified lead. Speaking directly with a prospective client provides information that otherwise is not gathered through forms or surveys.
- Call tracking can be integrated with platforms and tools like Google Analytics or Ads.
Customer Relationship Management (CRM)
CRMs are used for valuable business information, including lead tracking. Your CRM can give you detailed information about every step of your marketing touchpoints and prospects. You can use your CRM to:
- Manage all of your prospects in one place
- Analyze where your new client prospects are coming from and how they interact with your firm
- Qualifying your leads early in the process
Successfully marketing your law firm depends on putting the correct strategies and tactics in place and then monitoring the results to determine what works best and what should be eliminated. Knowing your desired outcome will help you measure your progress and manage your programs in the future.